Victory Capital Management Inc. Sells 12,690 Shares of Hubbell Incorporated (NYSE:HUBB)

Victory Capital Management Inc. decreased its position in Hubbell Incorporated (NYSE:HUBB) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 316,641 shares of the industrial products company’s stock after selling 12,690 shares during the quarter. Victory Capital Management Inc.’s holdings in Hubbell were worth $135,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the third quarter worth about $41,000. Quarry LP bought a new position in Hubbell during the 2nd quarter worth $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at approximately $58,000. GAMMA Investing LLC raised its stake in Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 72 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell in the 2nd quarter valued at $62,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $452.03 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1 year low of $286.49 and a 1 year high of $481.35. The firm has a fifty day moving average price of $429.31 and a 200-day moving average price of $398.40. The stock has a market cap of $24.26 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $3.95 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.17%. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HUBB shares. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.